EX-12 2 f09302014exhibit12.htm EXHIBIT F 09.30.2014 Exhibit 12


Exhibit 12


FORD MOTOR COMPANY AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)

 
First Nine Months
2014
Earnings
 
Income before income taxes
$
4,398

Add/(Deduct):
 
Equity in net income of affiliated companies
(874
)
Dividends from affiliated companies
1,376

Fixed charges excluding capitalized interest
2,786

Amortization of capitalized interest
30

Earnings
$
7,716

 
 
Fixed Charges
 
Interest expense
$
2,653

Interest portion of rental expense (a)
133

Capitalized interest
15

Total fixed charges
$
2,801

 
 
Ratios
 
Ratio of earnings to fixed charges
2.8

__________
(a) One-third of all rental expense is deemed to be interest.